Should you keep all of your money in the bank?

Keeping all money in the bank is a common practice, and if this is something that you do then you’re certainly not the only one. But while it may seem like a good idea thanks to statutory protections, this is not necessarily the case. Inflation can also have an effect, which ought to be taken into account. This article will explore the pros and cons.

Yes: it’s the ultimate safety net

Deposits made to banks in the UK are protected under a scheme known as the Financial Services Compensation Scheme. Deposits made with each banking company (not each bank brand, and some companies own several banks) are protected up to £85,000, meaning that if the bank goes out of business, you’ll get your cash back. Investment vehicles which can rise and fall in value are not protected, meaning that banks are often seen as especially safe.

There are more advantages to using a bank, especially when it comes to quick withdrawals. Bonds, stock portfolios and more often insist that you lose access to your money for a fixed period of time in return for higher returns, or they may take a long time to withdraw simply due to the level of administration required.

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Are Balance Transfers Still a Good Idea

Spring is a good time to review your finances and one area that just about everyone can work on would have to be credit cards. Unlike other finance guides, we don’t think that credit cards are a bad idea. In fact, you should have a few cards in your wallet for a variety of reasons. You can earn rewards, have a source of emergency funds, and also have a chance at building better credit for larger purchases in the future. In fact, it would be very difficult to prove to mortgage companies that you can handle a mortgage if you’ve never had any credit cards.

The problem is that people can get over their heads, charge up too much on a card, and throw off their credit profile. Yet the good part about rebuilding credit is that there are plenty of ways to do so, and balance transfers is just one tool of many to achieve this goal.

But are balance transfers still a good idea? Should you consider a balance transfer with zero interest? There are still plenty of great credit cards that have amazing offers for new customers. If you’re going to explore your options, there are a few things that you should know first.

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Fabulously Frugal ways to rebuild a poor credit score

Over the last few years, we’ve all become hyper aware of our credit score and what affect it could have on our lives. And with good reason.

At some point, we’re all probably going to want to take out some kind of credit. A poor credit score could, for example, result in us struggling to get a mortgage, leaving our dream home just that: a dream. Even getting a simple credit card could be challenging.

And it’s not just your ability to borrow money that a poor credit score can affect. What’s more, your credit history could even make it problematic to get a mobile phone contract.

While there are loans for bad credit, rebuilding a poor credit score is possible.

Pay your bills on time

One of the simplest ways to boost your credit score is to pay your bills on time.

Making sure that you pay your internet bill when it is due, for example, will show lenders that you are able to manage your finances.

If you can, consider paying your bills by direct debit. This should help you to avoid any late or missed payments.

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The Popularity of IQ Option in UK

Online trading is something which is relatively new in the U.K, even though the services has been around for a long time. As it stands, there are a myriad of options available when it comes to investments in the U.K. especially due to the influx of so many online trading platforms and brokerage services.

Online trading has been one of the most sought-after trading services in the globe right now, where users can make money on the go, through trading in real-time and with multiple investment choices. There are a myriad of platforms offering cryptocurrency CFD trading, forex trading and binary options trading in the U.K and other parts of Europe. The potential to earn big within a comparatively short period of time appear alluring to most traders, especially when Binary Options trading is concerned.

However, like most industries, the trading landscape is also filled with fraudulent platforms, out there to con innocent traders. As a trader in the U.K, you need to avoid such shady brokerage services and platforms at all costs or risk losing a fortune. Thus, there are several considerations that should be made while selecting an appropriate brokerage service provider in the United Kingdom.  Some of the considerations are explained in brief below.

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Ways to avoid festive overspending

It can be hard to stop yourself from overspending at Christmas, no matter how strict you are the rest of the year. Many people admit to over spending on their credit card or taking out a high cost to help them pay for their perfect Christmas. Spending on your credit card is no crime, as long as you can pay it back.

With the average UK household spending £500 upwards on Christmas this year, keeping an eye on your costs is important to avoid being caught in a spiral of debt and taking several months to pay off your holiday season.

The key is to be realistic with what you can afford and to save if you want to spend more than you usually would in a month. Preparation is key. So, to help you avoid overspending this festive period, we have put together ways in which you can do so.

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How To Save Money For Christmas 2018

As it gets closer to Christmas, families are aware of the massive costs that are coming their way. If you have a big family, you might find that you are going to really struggle to afford all of the presents that you need to buy, especially if you only work part time. The good news is that there are plenty of ways that you can save money for Christmas. This includes things like setting a budget, picking up some extra hours and much more. In this article, we are going to take you through some of the things that you can do. Keep reading if you’d like to find out more about this.

Set A Budget

Our first tip for those who are trying to save money for Christmas is to set a budget. Setting a budget is not as difficult as you may think, you’ll need to think about all of the money that you have coming in and out of your account and write it all down. Once you have done this, you can give yourself a weekly budget that you’ll need to stick to in the lead up to Christmas. Of course, you’ll probably have to keep the cost of Christmas presents out of your budget but make sure to factor this in.

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Taking steps to ensure that your investments deliver a healthy return

Investing is something that many people would like to get started with, but shy away from due to feelings of nerves. Often, the main off-putting factor is that there’s no guarantee of a good return – and, of course, this is true to some extent. In the world of investing, very few things are ever predictable or guaranteed. However, there are some ways to improve your chances of success. From doing your research and monitoring the market to opting for diversified, balanced portfolio types, you can increase the odds that your investments will work out in your favour.

Diversify your portfolio

The first way to preserve your returns when investing is to diversify your portfolio as much as possible. Diversification essentially means spreading your investment capital around as many different vehicles and asset classes as possible. As an example, you may decide to focus 20% of your portfolio on cryptocurrencies, 50% on equities and the remaining 30% on property. If one of the classes to which you are exposed declines in value while others rise, then you won’t lose everything – and the impact on your return will hopefully be small.

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